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Mauritius Commercial Bank achieves Basel II readiness with Quadrant

25 May 2007  |  2430 views  |  0 Source: Quadrant

The Mauritius Commercial Bank (MCB) has implemented a comprehensive capital adequacy programme based around the Standardised Approach as defined under the Basel II Capital Accord.

MCB are using Quadrant Risk Management (International) Ltd's SAB2 (Standardised Approach for Basel II) Capital Calculation and Reporting Tool in its new risk management systems and processes.

On April 4th 2007 The Mauritius Commercial Bank Ltd. announced that it had achieved a satisfactory state of readiness for Basel II using the Basel II Standardised Approach.

On 25 May 2007, Quadrant announced that MCB had successfully achieved its state of readiness using Quadrant's SAB2 (Standardised Approach for Basel II) Capital Adequacy Calculation and Reporting Engine as an important component within its overall architecture of new systems and risk management processes to achieve compliance with Basel II. Quadrant's role included assisting with the specification of MCB's Group Risk and Governance Policy, their Credit Risk, Operational Risk and Market Risk Polices as well as providing the underlying technology, SAB2 and the overall programme management. The implementation was completed by MCB in 18 months from the start of the project.

Tony Withers the Chief Executive, Banking at MCB says the "The new processes and systems implemented as part of this Basel II Programme have provided MCB with improved decision making, more efficient allocation of capital, more accurate understanding of risk concentration and the development of an enhanced assessment of returns against risk by line of business. Over time we anticipate that it will improve our credit rating and competitiveness".

Paul Lockyear, founder and Chief Operating Officer of Quadrant says, "Quadrant was chosen for our detailed risk policy expertise. We were able to provide a one stop consulting and technology solution ensuring an economic, low-risk implementation".

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